Quabor Advisory Ltd 28/02/2021 iXBRL

Quabor Advisory Ltd 28/02/2021 iXBRL

QUABOR ADVISORY LTD - Company Information

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Company registration number: 09441047
Quabor Advisory Ltd
Unaudited filleted financial statements
28 February 2021
Quabor Advisory Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Quabor Advisory Ltd
Directors and other information
Directors L Geoghegan
F Kelly
Company number 09441047
Registered office The Clock House
Station Approach
Marlow
Bucks
SL7 1NT
Accountants Pink Affinity Limited
Quabor Advisory Ltd
Statement of financial position
28 February 2021
2021 2020
Note £ £ £ £
Fixed assets
Investments 5 13,800 5,000
_______ _______
13,800 5,000
Current assets
Debtors 6 26,372 26,773
Cash at bank and in hand 205,291 164,958
_______ _______
231,663 191,731
Creditors: amounts falling due
within one year 7 ( 149,329) ( 147,577)
_______ _______
Net current assets 82,334 44,154
_______ _______
Total assets less current liabilities 96,134 49,154
Provisions for liabilities ( 1,672) -
_______ _______
Net assets 94,462 49,154
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 94,452 49,144
_______ _______
Shareholders funds 94,462 49,154
_______ _______
For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 November 2021 , and are signed on behalf of the board by:
F Kelly
Director
Company registration number: 09441047
Quabor Advisory Ltd
Statement of changes in equity
Year ended 28 February 2021
Called up share capital Profit and loss account Total
£ £ £
At 28 February 2019 10 67,607 67,617
Profit/(loss) for the year ( 18,463) ( 18,463)
_______ _______ _______
Total comprehensive income for the year - ( 18,463) ( 18,463)
_______ _______ _______
At 28 February 2020 and 29 February 2020 10 49,144 49,154
Profit/(loss) for the year 45,308 45,308
_______ _______ _______
Total comprehensive income for the year - 45,308 45,308
_______ _______ _______
At 28 February 2021 10 94,452 94,462
_______ _______ _______
Quabor Advisory Ltd
Notes to the financial statements
Year ended 28 February 2021
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Clock House, Station Approach, Marlow, Bucks, SL7 1NT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 29 February 2020 5,000 5,000
Revaluations 8,800 8,800
_______ _______
At 28 February 2021 13,800 13,800
_______ _______
Impairment
At 29 February 2020 and 28 February 2021 - -
_______ _______
Carrying amount
At 28 February 2021 13,800 13,800
_______ _______
At 28 February 2020 5,000 5,000
_______ _______
6. Debtors
2021 2020
£ £
Trade debtors 22,573 22,974
Other debtors 3,799 3,799
_______ _______
26,372 26,773
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 4,326 -
Corporation tax 8,956 -
Other creditors 136,047 147,577
_______ _______
149,329 147,577
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
L Geoghegan ( 94,902) 25,198 ( 69,704)
F Kelly ( 50,875) ( 13,668) ( 64,543)
_______ _______ _______
( 145,777) 11,530 ( 134,247)
_______ _______ _______
2020
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
L Geoghegan ( 47,813) ( 47,089) ( 94,902)
F Kelly ( 4,413) ( 46,462) ( 50,875)
_______ _______ _______
( 52,226) ( 93,551) ( 145,777)
_______ _______ _______